Reuters: US Dollar Report: Euro hits session highs against dollar

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Euro hits session highs against dollar Jun 22nd 2012, 13:29 NEW YORK, June 22 | Fri Jun 22, 2012 9:29am EDT NEW YORK, June 22 (Reuters) - The euro hit session highs against the dollar on Friday, with market participants citing a combination of short-covering and news on the European Central Bank easing collateral requirements. Jamie Coleman, currency strategist at ForexLive.com in Boston, said it could be technical buying after the euro broke above $1.2520, which was the 50 percent retracement of the early June low and the high hit this week. It could also be Friday's news that the ECB was easing its collateral requirements, although speculation about that was already in the market on Thursday. The euro hit session highs at $1.2580 and was last at $1.2572, up 0.3 percent.

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